Capital One Southcoast Upgrades TETRA Technologies (TTI) to Add

May 19, 2009 9:43 AM EDT

Capital One Southcoast upgrades TETRA Technologies (NYSE: TTI) from Neutral to Add. Price target raised from $8 to $11

Capital One analyst says, "The overdone execution/liquidity bottom-feeding trade has already played out (Global Industries (Nasdaq: GLBL), Helix Energy (NYSE: HLX), & TTI all bottomed ~$2) with heroic runs on a % basis, but the stocks are still cheap in absolute terms. Becomes more a function of addressing the same lingering questions regarding execution, strategic hurdles, and/or '10 est conviction. For TTI, off to a good start w/ 1Q execution, and Fluids catalysts are identifiable boosts to yoy ests.'09/'10 to $0.73/$1.17 from $0.74/$1.12 as we lighten up on our seq 2Q Fluids mgn while building in more '10 top line and mgn growth w/ US GOM deepwater Fluids, El Dorado, and PBR."

TETRA Technologies, Inc., together with its subsidiaries, operates as an oil and gas services and production company.

To see more analyst ratings on TTI Click Here.

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